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The light inside is broken, but I still work. The Cadillac of online bookmarking sites. Alleged nocoiner. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

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    Pinboard‏ @Pinboard May 31

    The thing I really enjoy about non-fungible tokens (NFTs) and "smart contracts" more broadly is that there's no way to get them to point to information or objects outside the blockchain without introducing a trusted third party, the whole thing you set up a blockchain to avoid.

    9:18 AM - 31 May 2021
    • 134 Retweets
    • 763 Likes
    • Lambda Duck David J Carr Magneto Did Nothing Wrong Bruce ACAB WrathofKahneman Daniel Wesser 10:40am Matt Lee juan hdez
    25 replies 134 retweets 763 likes
      1. New conversation
      2. Pinboard‏ @Pinboard May 31

        You might worry, for example, that smart contracts and programmable currency would legalize all gambling in a way governments couldn't regulate. But the only thing you could gamble on is other transactions on the blockchain. There's no way to find out the score of a soccer game

        7 replies 11 retweets 152 likes
        Show this thread
      3. Pinboard‏ @Pinboard May 31

        This mixture of solipsism, pointlessness, and being hermetically sealed off from information about the real world while also ruining it nicely mirrors the cryptocurrency culture itself. It's like those people who start to resemble their pets.

        5 replies 30 retweets 266 likes
        Show this thread
      4. Pinboard‏ @Pinboard May 31

        Major investors are all smart enough to understand this disqualifying flaw with smart contracts, but are pouring money into the exercise anyway, for the same reason that mobsters once poured money into an empty patch of Nevada desert. Unregulated gambling is lucrative as hell

        3 replies 16 retweets 162 likes
        Show this thread
      5. Pinboard‏ @Pinboard May 31

        The rest of us should remember that the existence of a thriving ecosystem around the purchase and sale of magic beans does not imply the existence of a beanstalk

        1 reply 42 retweets 278 likes
        Show this thread
      6. Pinboard‏ @Pinboard May 31

        For those still confused but ashamed to ask: NFTs are basically just like buying a special sword in World of Warcraft, except without the game and also without the sword

        10 replies 94 retweets 462 likes
        Show this thread
      7. Pinboard‏ @Pinboard May 31

        I hope whoever taught the kind of people who were flipping homes in 2007 about hash functions has their life savings on the blockchain

        3 replies 10 retweets 104 likes
        Show this thread
      8. Pinboard‏ @Pinboard May 31

        I think I'm angriest about NFTs because it's a kind of low-volume bookmarking that makes other people rich

        10 replies 18 retweets 282 likes
        Show this thread
      9. End of conversation
      1. New conversation
      2. Eric Blair 🔥‏ @protecttruth_ May 31
        Replying to @Pinboard

        Wait wait wait! You can’t just hash the photons? (Whispers in ear) The fungability of photons is a fundamental principle of the physical world?!?! Who knew.

        1 reply 0 retweets 8 likes
      3. Marc “Except You, You're All Right” Whipple‏ @WhippleMarc May 31
        Replying to @protecttruth_ @Pinboard

        actually, there's only one photon so it isn't distinct anyway

        1 reply 0 retweets 8 likes
      4. Show replies
      1. New conversation
      2. SIMD Crawford‏ @omershapira May 31
        Replying to @Pinboard

        Unless your work has extremely low Kolmogorov Complexity, and can be embedded in the token’s payload. Poetry counts, technically, if you’re a shill who believes the English language isn’t centrally controlled

        1 reply 0 retweets 7 likes
      3. Matt Ranger‏ @vhranger May 31
        Replying to @omershapira @Pinboard

        Even then, we're all subjects to the whims of the UTF8 committee

        0 replies 0 retweets 5 likes
      4. End of conversation

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